Multiple Choice
If asked to comment about a new tax on cotton collected from growers who do not grow their plants in the shade of other plants,an economist with no particular expertise in cotton growing might still note that
A) the price received by these cotton producers will fall by the full amount of the tax.
B) the price paid by consumers of this cotton will rise by the full amount of the tax.
C) the legal incidence of the tax does not determine who bears the burden of the tax.
D) the tax was imposed on the wrong party,it should have been placed on buyers.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: How does an economic model attempt to
Q3: Which of the three stages of economic
Q4: In laboratory experiments,how do animals respond to
Q5: When formulating an economic model,one must explicitly
Q6: All of the following are economic explanations
Q7: In the consumer-choice model,the economist examines how
Q8: If an activity is worth pursuing at
Q9: Economic models start with the assumption of<br>A)
Q10: The primary criterion used to analyze the
Q11: In a Walrasian equilibrium,which of the following